Seek help over fast depreciation of the cedi-Mahama to Gov’t

Former President John Dramani Mahama has asked the ruling New Patriotic Party (NPP) to seek help in the bid to stabilise the depreciating cedi.

The former president in a Facebook post said: ” The recent free fall of the cedi against all major foreign currencies, may be exposing a deeper malaise in the “fundamentals of the economy”. It may serve Akufo-Addo/Bawumia and their economic team well to own up to their shortcomings and call a Senchi type stakeholder forum on the economy”.

‘’There are times when a leader or a party must admit that they do not have all the answers to the challenges facing the economy or a particular sector. At such times, it does not take away from your dignity, but adds to your credibility, when you create a consultative process that forges a consensus and allows a nation to move forward,’’ it added.

Mr Mahama who faced similar backlash under his leadership recounted how he put in place measures to help address the challenge.

“I faced one such decision point as President in 2014. The 3-day Senchi Economic Forum was held in May 2014. It was a broad consultative process and even though it was boycotted by the opposition NPP, it achieved its objective of producing the famous Senchi Report which contributed to the Homegrown Fiscal Consolidation Programme.”